D.A. Davidson & CO. Has $9.99 Million Holdings in Snowflake Inc. (NYSE:SNOW)

D.A. Davidson & CO. increased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,324 shares of the company's stock after acquiring an additional 1,423 shares during the period. D.A. Davidson & CO.'s holdings in Snowflake were worth $9,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in shares of Snowflake in the 1st quarter worth about $898,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Snowflake by 455.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after acquiring an additional 101,806 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Snowflake in the 4th quarter worth about $3,088,000. Deutsche Bank AG raised its holdings in shares of Snowflake by 26.0% in the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after acquiring an additional 190,583 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Snowflake in the 1st quarter worth about $9,090,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Up 1.7%

Shares of NYSE:SNOW opened at $221.13 on Friday. The firm has a fifty day moving average price of $196.60 and a two-hundred day moving average price of $174.76. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. Snowflake Inc. has a one year low of $107.13 and a one year high of $225.68. The company has a market cap of $73.83 billion, a price-to-earnings ratio of -52.52 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned $0.14 EPS. The business's quarterly revenue was up 25.8% compared to the same quarter last year. Analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on SNOW. JPMorgan Chase & Co. upped their target price on shares of Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. DA Davidson reiterated a "buy" rating and issued a $250.00 price objective on shares of Snowflake in a research note on Wednesday, June 4th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Monness Crespi & Hardt increased their price objective on shares of Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $225.36.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 400,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the sale, the chief financial officer owned 292,610 shares in the company, valued at approximately $60,090,389.60. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Garrett sold 67,000 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the sale, the director owned 7,428 shares in the company, valued at approximately $1,478,023.44. This trade represents a 90.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,876,557 shares of company stock worth $403,565,119. 6.80% of the stock is owned by corporate insiders.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.

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